Owners are keeping their capesize bulkers in the Pacific basin while the Covid-19 pandemic wreaks havoc on Brazil's iron ore supply.
The major exporter has surpassed the US as the virus epicenter as cases there approach 450,000 and deaths close in on 27,000 as of Friday.
The commodity's output has, therefore, slowed from the country's mining provinces, forcing China to turn to Australia and elsewhere for needed iron ore.
